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Leases (Tables)
9 Months Ended
Sep. 30, 2020
Leases [Abstract]  
Schedule of Information about Leases

The following tables present information about the Company’s leases at the dates indicated:

 

(Dollars in thousands)

 

September 30, 2020

 

Lease liability

 

$

4,697

 

Right-of-use asset

 

$

4,634

 

Weighted average remaining lease term

 

8.04 years

 

Weighted average discount rate

 

 

3.55

%

 

 

 

Three Months Ended September 30,

 

 

Nine Months Ended September 30,

 

(In thousands)

 

2020

 

 

2019

 

 

2020

 

 

2019

 

Lease Expense

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Operating lease expense

 

$

200

 

 

$

200

 

 

$

611

 

 

$

610

 

Short-term lease expense

 

 

7

 

 

 

5

 

 

 

16

 

 

 

11

 

Total lease expense

 

$

207

 

 

$

205

 

 

$

627

 

 

$

621

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash paid for amounts included in lease liabilities

 

$

168

 

 

$

165

 

 

$

502

 

 

$

533

 

Maturity Schedule of Undiscounted Cash Flows Contribute to Lease Liability

The following table presents a maturity schedule of undiscounted cash flows that contribute to the lease liability at September 30, 2020:

 

(In thousands)

 

 

 

 

Undiscounted Cash Flow

 

September 30, 2020

 

Three months ending December 31, 2020

 

$

112

 

Twelve months ending December 31, 2021

 

 

682

 

Twelve months ending December 31, 2022

 

 

694

 

Twelve months ending December 31, 2023

 

 

707

 

Twelve months ending December 31, 2024

 

 

646

 

Thereafter

 

 

2,603

 

Total undiscounted cash flows

 

$

5,444

 

Less:  Discount

 

 

(747

)

Lease liability

 

$

4,697